Drafting Commercial Goods Warehousing Agreements on Behalf of Warehousers or Customers

Structuring Indemnity, Insurance, Limitation of Liability and Other Key Provisions to Minimize Risks and Liability Exposure

Recording of a 90-minute CLE webinar with Q&A


Conducted on Wednesday, February 17, 2016

Recorded event now available

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Program Materials

This CLE webinar will guide business counsel in drafting warehousing agreements for the storage of commercial goods on behalf of warehousers and customers. The panel will discuss best practices for negotiating key terms in warehouse agreements and receipts to minimize risks and liability exposure in the event of nonreceipt or misdescription of goods, delivery of goods to the wrong party, or failure to keep goods separate. The panel will also address how to deal with lien issues that commonly arise with stored goods.

Description

Warehousing is a multibillion dollar industry. Businesses involved in storing commercial goods face a number of legal risks and potential liability in the event of nonreceipt or misdescription of goods, delivery of goods to the wrong party, or failure to keep goods separate. Counsel advising warehousers and customers must understand how to negotiate warehousing agreements in accordance with Article 7 of the UCC and other applicable federal and state laws and how to draft provisions that effectively allocate risk and reduce liability exposure.

Indemnity and limitation of liability provisions are key risk mitigation provisions in warehousing agreements. In addition, warehousing contracts generally include minimum insurance requirement provisions to cover the risk of any reasonably foreseeable losses. Some agreements further require each party to the contract to add the other as an additional insured under their own insurance policy to maximize insurance coverage in the event of a loss. Other key provisions include scope of services, force majeure, confidentiality, termination and more.

Listen as our authoritative panel of business attorneys explains best practices for drafting and negotiating warehousing agreements and warehouse receipts. The panel will discuss considerations for counsel to warehousers and customers to minimize the risks and liability exposure inherent in storing commercial goods.

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Outline

  1. Key provisions in warehousing agreements
    1. Indemnity
    2. Insurance
    3. Limitation of liability
    4. Force majeure
    5. Termination
    6. Other key provisions
  2. Contract negotiation considerations and best practices
    1. For warehousers
    2. For customers
  3. Dealing with lien issues
  4. Demurrage Considerations

Benefits

The panel will review these and other key issues:

  • What are the key provisions that counsel should carefully negotiate when drafting warehousing agreements and receipts?
  • What are some common contracting pitfalls with warehousing contracts and how can they be avoided or overcome?
  • What are some best practices for addressing lien and other  issues that often arise with stored goods?
  • Under what circumstances might a warehouser also be classified as a shipper and what are the attendant risks of this classification?

Faculty

John F. Horvath
John F. Horvath

Principal
Horvath & Weaver

Mr. Horvath represents public warehouse operators, motor truck carriers, motor brokers, freight forwarders and their...  |  Read More

Mark D. Kimball
Mark D. Kimball

Founder
MDK Law

Mr. Kimball's practice is concentrated on corporate and real estate transactions, commercial litigation, business...  |  Read More

Joel F. Murray
Joel F. Murray

MDK Law

Mr. Murray's practice focuses on commercial litigation, demurrage law, administrative law, land use litigation and...  |  Read More

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